Atlanta, GA, May 24, 2013 — Acculynk's PaySecure International was awarded the 2013 CNP Award for the Best E-Commerce Platform/Gateway Judges category from among the companies, programs and solutions that have distinguished themselves in the card not present space during the past year. Over 40 companies competed in the CNP Awards, an annual event honoring the products and solutions CNP merchants rely on most to increase sales. The CNP Award winners were announced at the 2013 CNP Expo in Orlando.
Acculynk's PaySecure International is a global debit authentication network that allows merchants to gain new customers by enabling PIN debit authenticated in-country and cross-border payments. In many countries around the world where credit is either not popular or not accessible, e-commerce growth is running well beneath its potential. Even in markets where it is growing, e-commerce is expected to accelerate with consumers enabled to use PIN-only debit cards for online transactions.
The Acculynk gateway enables e-commerce using PIN debit, especially internationally in emerging, debit-centric markets like India, where 250 million debit cards have been issued, and China's Union Pay card, with more than 3 billion issued debit cards.
"Attempts by other service providers to solve e-commerce authentication are convoluted with enrollment and redirection procedures that cause high rates of shopping-cart abandonment and low adoption," said Nandan Sheth, President, Acculynk. "PaySecure International is causing disruption by entering a market largely untapped by issuers and other players and demonstrating that these consumers can be empowered."
"For example, when consumers in China and Puerto Rico are able to use their local debit card online, they become net new customers for U.S. merchants. The addition of billions of newly enabled card holders creates a powerful incentive for new merchants to accept the cards, increasing consumer choice, and creating both sales and transaction lift on a global basis," said Sheth.
The company is a first-time winner in the CNP Awards. The CNP Expo is an annual gathering of the leading companies in the card-not-present space from the smallest e-commerce Websites and technology providers to global retailers and payment processors. "We are very honored to be selected for this recognition by CNP's distinguished panel of judges," said Sheth. "The CNP Expo is a valuable source of information for innovators in the card-not-present space."